JBM Auto stock hits 52-week high after its subsidiary acquires 51% stake in two companies

10 Jan 2022 , 09:22 AM

JBM Auto Ltd has informed that the JBM Electric Vehicles Private Limited, a wholly-owned subsidiary of the Company, has acquired 51% Equity Shares in the two Companies on January 07, 2022.

The name of the two companies are as follows:
JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited.

After the aforesaid acquisition, JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited have become indirect subsidiary companies of the Company.

According to the filing, the turnover of JBM Green Energy Systems Private Limited was Rs585.97 lakh for the financial year March 31, 2021.

Further, the turnover of JBM EV Industries Private Limited was nil for the financial year ended March 31, 2021.

At around 9:24 AM, JBM Auto was trading at Rs1,485.20 apiece up by Rs65.45 or 4.61%, after hittinh 52-week high at Rs1,490.70 per piece on Sensex.